Harpster & Barker Group
Galena, OH
Single-Family Homes
Broker, MBA, BSBA Real Estate and Urban Analysis
Galena, OH
Fri Mar 24 2023
This week the median list price for Galena, OH is $680,000 with the market action index hovering around 48. This is less than last month's market action index of 55. Inventory has increased to 11.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $680,000 | |
| Median Price of New Listings | $624,900 | |
| Per Square Foot | $257 | |
| Average Days on Market | 46 | |
| Median Days on Market | 14 | |
| Price Decreased | 36% | |
| Price Increased | 9% | |
| Relisted | 9% | |
| Inventory | 11 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,004,449 | 4,698 | 2.5 - 5 acres | 5 | 4.8 | 10 | 0 | 0 | 35 |
| $895,900 | 3,440 | 0.25 - 0.5 acre | 3 | 3.5 | 1 | 0 | 0 | 7 |
| $639,113 | 2,743 | 0.25 - 0.5 acre | 4 | 2.5 | 20 | 1 | 0 | 70 |
| $549,995 | 2,716 | 0.5 - 1 acre | 4 | 2.5 | 11 | 0 | 0 | 42 |